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Champion Loans Low Income Loans
Maximum loan amount
Turnaround time
Next Business Day
Term of loan
6 weeks to 1 year
Do you really need a loan today? If you would like to speak to someone about your finances you can call the free National Debt Helpline on 1800 007 007.


Low income loans of up to $2,000. This loan doesn’t charge an ongoing or establishment fee, but interest rates apply.

This is a secured payday loan. You can borrow up to $2,000, and secure the loan with your car. You can also apply if you have poor credit history, defaults or if you haven’t lived at your current address for long. You can apply online, in person or over the phone. They take 4-8 hours to process your application, and will deposit the cash in your account overnight. Unlike standard payday loans, this loan doesn’t attract any application fees, ongoing account-keeping fees or early payout fees. Instead, Champion Loans charges interest. The interest rate can be as much as 48%, making this loan expensive. Payday loans are not a long-term solution and can lead to a long-term debt cycle. This is because they are expensive. You should only borrow in case of an emergency and if all your other avenues have been exhausted.

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Product Details

Product Name Champion Loans Low Income Loans
Maximum loan amount $2,000
Arrears Fee $0
Loan term 6 weeks to 1 year
Turnaround time Next Business Day
Costs 20% of principal amount (establishment fee) + 4% monthly charge
Requirements You must be 18+, an Australian resident and have a steady source of income
Available to Centrelink Borrowers? No

⚠️ Warning about Borrowing

payday-warningDo you really need a loan today?*

It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.

Check your options before you borrow:

  • For information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor
  • Talk to your electricity, gas, phone or water provider to see if you can work out a payment plan
  • If you are on government benefits, ask if you can receive an advance from Centrelink: Phone: 13 17 94

The Government's MoneySmart website shows you how small amount loans work and suggests other options that may help you.

* This statement is an Australian Government requirement under the National Consumer Credit Protection Act 2009.

How does a low income loan from Champion Loans work?

Loan customers can start by applying in person, over the phone or online. After completing the application they have to provide different types of supporting documents to serve as identification, income, and residential address verification.

Once someone submits an application and other required documents, a Champion Loans representative will review it. This process can take four to six hours. Upon approval, the successful applicant will be given the option to sign a loan contract. This must be signed in order to receive the approved funds. Once they sign the contract, they can access their funds by the next business day.

Compare Other Payday Loans

Whilst we don't compare Champion Loans Low Income Loans directly, here are some other loans that are similar.

1 - 6 of 6
Name Product Maximum loan amount Term of Loan Turnaround time Arrears Fee Costs Fortnightly Repayment (for $1500 Loan)
Sunshine Short Term Loans
12-20 weeks
30 minutes - conditions apply
20% of loan amount + 4% of loan amount each month
A small loan up to $3,000 that you repay over 12-20 weeks. Loans approved and funded in as little as 30 minutes. Centrelink must not be your primary income
Fair Go Finance Small Loan
3 to 12 months
24 to 48 hours
Establishment Fee of $60 – $400
A small loan between $500 and $2,000 that can be funded in 24 hours.
Credit24 Short Term Loan
4 to 12 months
Same day - conditions apply
20% of loan amount establishment fee + 4% of loan amount monthly.
Credit24 offers this loan up to $2,000 and gives you 12 months to repay. Centrelink borrowers are considered as long as Centrelink payments are not more than 50% of income.
Nimble Small Loan
62 days to 9 months
1 hour - conditions apply
20% of loan amount + 4% of loan amount each month
A loan up to $2,000 with terms up to 62 days to 9 months. Centrelink cannot be your primary source of income.
Safe Financial Small Loan ($500 to $2000)
13 to 50 weeks
Same day - conditions apply
20% establishment fee + 4% monthly.
Borrow from $500 to $2,000 with same-day funding and no early repayment fees.
Fundo Small Loan
13 to 26 weeks
Same day - conditions apply
20% of loan amount + 4% of loan amount each month
Borrow up to $2,000 and pay it off over 20 weeks. Same day approval for eligible borrowers.

Features of a Low Income Loan from Champion Loans

Champion Loans Low Income Loans come with different features, and knowing of them before applying is a good idea.
  • No application and account-keeping fees. Borrowers don’t have to pay any fees to apply for this Low Income Loan. It does not attract any monthly account-keeping fees too.
  • Use proceeds for different purposes. There is no stipulation as to how borrowers should use proceeds from this loan.
  • Bad credit applicants can still apply. People who suffer from bad credit, but have a steady source of income and have the ability to repay can apply for this loan. They can also apply if they have only lived at your existing residential address for a short duration.
  • No penalty for early payouts. Customers can save some money in the form of interest by paying the loan off before its scheduled term, and early payouts don’t attract any penalties.

What are the risks of payday loans?

  • Unaffordable repayments. Payday loans are an expensive way to borrow money and should only be used as a last resort. Check the size of each repayment and ensure you will be able to pay it on time. Unaffordable repayments can lead to late fees that will only make things worse.
  • High rates and fees. Rates and fees on payday loans are high but there are rules in place so be sure to check your lender is not charging you more than ASIC allows. Also, look at what you would be charged if you are late on a payment or if you default on the loan altogether.
  • Unreputable lenders. All Australian lenders should be accredited by ASIC. Check for a credit licence on the ASIC Register and ensure that the lender is easily contactable.
  • Impact on credit score. Every loan application shows up on credit reports. While lenders might not consider credit history, applying for lots of loans within a short period can have a negative impact on your credit score in the future.

How much will this loan cost?

This Low Income Loan does not attract any application fees, ongoing account-keeping fees or early payout fees. Customers might have to pay certain other fees and charges during the course of the loan. Successful applicants will get a complete list of these as part of the loan contract, which they will receive upon approval of their application.

It's important for borrowers to read through this document carefully before signing it to ensure that they know exactly what they are signing up to pay.

How to apply for a Low Income Loan from Champion Loans

One way is to visit Champion Loans’s office, initiate the process over the phone and customers also have the option of applying online. First, prospective applicants will need to be able to answer 'yes' to the following to be eligible to apply:

  • Are over 18 years of age
  • Are a permanent Australian resident
  • Have a steady source of income


Completing the application process requires that applicants provide certain documents to verify details given in their application, so they should keep the following handy:

  • Two forms of identification (Australian passport, Australian driver’s licence, Medicare card, 18+ card, or birth certificate)
  • Proof of residence (lease receipt, rent receipt, or utility bill)
  • Income proof (payslips or Centrelink statements)
  • Bank statements for last three months

What to know

While getting a Champion Loans Low Income Loans can be an option for those in need of finance, they should keep in mind that other such loans and financing options exist. So, it's a good idea to compare before applying.

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